Taulia, a top supply chain financing Fintech is raising $60 million, according to the company. Big-name investors are participating in the round including JPMorgan, Ping An, Saudi Aramco, and existing investors including Zouk Capital.
CEO of Taulia, Cedric Bru said the funding round is a testament to the product-market fit of the Taulia solution that they have garnered the interest and investment from this trifecta of Fortune Global 50 companies.
“Ping An, J.P. Morgan and Prosperity7 Ventures bring a wealth of knowledge that we will leverage to further solve liquidity needs of businesses and contribute to economic growth,” said Bru.
Prosperity7 Ventures is a venture fund by Saudi Aramco.
In 2019, Taulia announced achieving profitability for the company. Founded in 2009, Taulia delivers working capital solutions that make it easy for businesses to free up cash, accelerate payments, and improve supply chain health. Because of its abilty to seemlessly integrate with firms enterprise platforms, Taulia leverages deep data to provide access to capital. Crowdfund Insider has previously reported that Taulia had never experienced a default – a unique characteristic in the lending sector.
This past spring, Taulia announced a strategic alliance with the largest US Bank JPMorgan (NYSE:JPM). At one point, it was reported that JPMorgan had a legacy system in need of replacement – instead, it selected Taulia, thus an investment by the bank clearly makes sense. Taulia biggest competitor in the US is said to be Citi.
Donald Lacey, MD and COO of the Ping An Global Voyager Fund, said that Taulia is at the forefront of supply chain finance technology, with a global footprint that spans over two million SME suppliers and a suite of solutions that dramatically improves SMEs’ ability to manage cash.
“We are excited to partner with Cedric and his team to build out their capabilities in China.”
Aysar Tayeb, Executive Managing Director of Prosperity7 Ventures added that Taulia is a very promising company that is providing real value to buyers and suppliers through a smart combination of dynamic discounting and supply chain financing.
“Taulia’s innovative solution will be an essential component for many corporates and SMEs as they strive for working capital optimization, which is a pressing priority through the current economic challenges.”
JPMorgan said they are committed to bringing the best solutions in the market to their customers and their strategic alliance with Taulia has been well received by clients.
“The investment component is another step in our relationship as we look to better serve clients and their supply chains within our Global Trade franchise,” said Stuart Roberts, Global Head of Trade, J.P. Morgan.
Taulia processes over $500 billion annually across its network. Taulia boasts a network of 2 million businesses that use its technology.
At one point, Taulia considered an initial public offering but today the company is looking more like an M&A target. Previously, Taulia has raised over $175 million in venture funding.
In a conversation with Crowdfund Insider earlier this year, Taulia said there is around $19 trillion locked up in supply chain finance at any given time – that is their target market. And it is hard to beat a zero percent default rate.